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A quantifiable approach to the selection of criteria and indexation for comparison of the gas pipeline projects leading to the EU: Diversification rationality against securitisation?

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  • Dubský, Zbyněk
  • Tichý, Lukáš
  • Pavliňák, Daniel

Abstract

The EU is dependent on imports of natural gas, and it has followed the issue of energy security and the need to diversify suppliers. Its political discourse clearly shows a preference for reducing its dependence on Russia, even if it is necessary to incur high costs in order to do so. It turns out, however, that the possibilities for diversification are limited and the reality of the new projects may contradict it. The article identifies the economic and political criteria for the comparison of the gas pipeline project options and creates a methodological framework via the construction of an index for evaluation and comparison of the individual projects. The index is constructed on the basis of objectivization of criteria and reflects the long-term vision. It could give us arguments for explaining why new gas pipeline projects for transporting gas to Europe are realised (with Nord Stream 2 and TurkStream being particularly notable) regardless of diversification requirements and elapsed securitization.

Suggested Citation

  • Dubský, Zbyněk & Tichý, Lukáš & Pavliňák, Daniel, 2021. "A quantifiable approach to the selection of criteria and indexation for comparison of the gas pipeline projects leading to the EU: Diversification rationality against securitisation?," Energy, Elsevier, vol. 225(C).
    • Handle: RePEc:eee:energy:v:225:y:2021:i:c:s0360544221004874
    DOI: 10.1016/j.energy.2021.120238
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